BOE A: Becomes the pending transferee of 80.831% equity of Nanjing Flat Panel Display

On October 20, BOE A released an announcement on the progress of the proposed acquisition of part of the equity of Nanjing Panda Flat Panel Display Technology Co., Ltd., stating that BOE Technology Group Co., Ltd. (hereinafter referred to as "BOE") became the pending transferee of 80.831% of the equity of Nanjing Panda Flat Panel Display Technology Co., Ltd. (hereinafter referred to as "Nanjing Flat Panel Display").

The announcement shows that the shareholders of Nanjing Flat Panel Display will publicly list the transfer on the Shanghai United Property Exchange Co., Ltd. (hereinafter referred to as the "Property Exchange") from September 8, 2020, and publicly solicit transferees in accordance with legal procedures. It is planned to solicit one transferee, and the total equity transfer ratio is 80.831% (57.646% equity of Nanjing Flat Panel Display held by Nanjing Huadong Electronic Information Technology Co., Ltd., 17.168% equity of Nanjing Flat Panel Display held by China Electronics Co., Ltd. and 6.017% equity of Nanjing Flat Panel Display held by Nanjing China Electronics Panda Information Industry Group Co., Ltd., collectively referred to as "Party A").

BOE held the 17th meeting of the 9th Board of Directors and the first extraordinary general meeting of shareholders in 2020 for deliberation and passed the relevant proposal that the company intends to acquire part of the equity of Nanjing Flat Panel Display at a price not lower than the listing price. The company received a notice from the Equity Exchange on October 19, 2020: the company has obtained the qualification to be transferred. On October 19, 2020, the two parties to the transaction signed the Equity Transaction Contract (hereinafter referred to as the "Contract"), and the company became the pending transferee.

In addition, BOE A emphasized in the announcement that Sharp Corporation (hereinafter referred to as "Sharp"), the original shareholder of Nanjing Flat Panel Display, has not waived its preemptive right to the transfer target. After the company becomes the pending transferee, if Sharp waives its preemptive right within the period prescribed by relevant laws or fails to exercise its preemptive right within the period, the company will become the final transferee.